LENNAR CORP /NEW/ (LEN) closed fiscal year 2025 with a gross margin of 9.9 % and a net margin of 6.1 %.
LENNAR CORP /NEW/ (LEN) closed fiscal year 2025 with a gross margin of 9.9 % and a net margin of 6.1 %. The same year shows an EBITDA margin of 8.8 % and an EBIT margin of 8.4 %. The free cash flow margin was 0.1 %. Against the previous year the gross margin moved −5.6 pp and the net margin −5.0 pp. Across the period the gross margin ranges between 9.9 % in 2025 and 21.4 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: November
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 21.39 % | 17.35 % | 15.52 % | 9.91 % |
| EBITDA margin (%) | — | -19.97 % | 6.58 % | 6.94 % | 9.20 % | 14.46 % | 15.24 % | 15.51 % | 14.73 % | 12.19 % | 12.42 % | 12.88 % | 15.90 % | 21.10 % | 18.17 % | 15.43 % | 14.32 % | 8.81 % |
| EBIT margin (%) | — | -20.61 % | 6.14 % | 6.24 % | 8.51 % | 13.95 % | 14.74 % | 15.05 % | 14.27 % | 11.67 % | 11.97 % | 12.47 % | 15.48 % | 20.78 % | 17.91 % | 15.11 % | 13.99 % | 8.41 % |
| Net margin (%) | -24.24 % | -13.37 % | 3.10 % | 2.98 % | 16.54 % | 8.08 % | 8.21 % | 8.47 % | 8.33 % | 6.41 % | 8.24 % | 8.31 % | 10.96 % | 16.33 % | 13.70 % | 11.50 % | 11.10 % | 6.08 % |
| FCF margin (%) | — | — | — | — | — | — | -10.43 % | -5.39 % | 3.94 % | 6.88 % | 7.59 % | 6.27 % | 18.31 % | 9.10 % | 9.53 % | 14.84 % | 6.30 % | 0.08 % |
